International Trade and Industry Minister Darrell Leiking (photo, above) today reiterated that DreamEdge Sdn Bhd, the anchor company chosen to pioneered the third national car, won't get a bailout from the government even if it fails in the project.
"If it fails, will there be a bailout? No, because it is a private initiative, not a government initiative," he told journalists at the Malaysia Aerospace Summit in Kuala Lumpur today.
He was asked to respond to MCA president Wee Ka Siong's claim that DreamEdge did not have the capability for such a project and would eventually require government help.
Wee had also questioned how the government can guarantee no public funds will be involved when DreamEdge is partially owned by the government.
Leiking stressed that DreamEdge will also not seek government funding despite its government links.
"DreamEdge has assured the government that they will not seek government funding. I think that decision was why we supported the project," he said.
DreamEdge is 52.6 percent owned by the Malaysian Industry-Government Group for High Technology (Might), a government agency.
Leiking added that Might taking up a stake in DreamEdge was done under the previous government in 2017.
He stressed that the government want to support the creation of a new eco-system for the future.
"For me, if it's a good thing I will support it. If it fails, it is the failure of the management or product.
"But in this case, their product is very clear. They are able to work with Japanese technology. They are confident of it.
"Why should we kill it?" he said.
He added that any tax incentive granted by the government will be decided on merit.
"During our watch, we do not give incentive freely. We will make sure it benefits the nation," he said. - Mkini
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